First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sets New 52-Week High – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) reached a new 52-week high during trading on Wednesday . The company traded as high as $136.14 and last traded at $136.10, with a volume of 47605 shares changing hands. The stock had previously closed at $134.79.

First Trust NASDAQ 100 Equal Weighted Index Fund Trading Up 1.0 %

The stock has a market capitalization of $2.00 billion, a P/E ratio of 30.27 and a beta of 1.05. The business has a 50-day moving average price of $129.36 and a 200 day moving average price of $126.78.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.1439 per share. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the 4th quarter valued at $119,160,000. Independent Advisor Alliance purchased a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the 4th quarter valued at $17,108,000. JP Wealth Management Inc. purchased a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the 4th quarter valued at $15,063,000. LPL Financial LLC raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 12.2% during the 4th quarter. LPL Financial LLC now owns 856,301 shares of the company’s stock valued at $107,003,000 after buying an additional 92,847 shares during the period. Finally, Virtus Wealth Solutions LLC purchased a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the 4th quarter valued at $11,223,000.

About First Trust NASDAQ 100 Equal Weighted Index Fund

The First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) is an exchange-traded fund that is based on the NASDAQ-100 Equally Weighted index. The fund tracks an equal-weighted version of the NASDAQ 100. QQEW was launched on Apr 19, 2006 and is managed by First Trust.